Core Viewpoint - Oil prices are rising due to escalating tensions between the U.S. and Iran, overshadowing a significant increase in U.S. crude inventories [1] Oil Price Movements - Brent crude oil futures increased by 34 cents, or 0.49%, reaching $69.74 per barrel [1] - U.S. West Texas Intermediate (WTI) crude rose by 37 cents, or 0.57%, to $65.00 per barrel [1] - Both benchmarks had settled higher the previous day, with Brent gaining 0.87% and WTI gaining over 1.05% [1] U.S.-Iran Relations - U.S. President Donald Trump indicated that no definitive agreement was reached with Israeli Prime Minister Benjamin Netanyahu regarding Iran, but negotiations will continue [1] - Trump mentioned the possibility of sending a second aircraft carrier to the Middle East if a deal with Iran is not achieved [1] - Indirect talks between U.S. and Iranian diplomats took place last week, with the next round of talks yet to be scheduled [1] U.S. Economic Indicators - U.S. job growth unexpectedly accelerated in January, with the unemployment rate falling to 4.3%, indicating economic health [1] - The resilient U.S. economy is supporting expectations for oil demand [1] Crude Inventory Data - U.S. crude inventories rose by 8.5 million barrels to 428.8 million barrels last week, significantly exceeding analysts' expectations of a 793,000-barrel increase [1] - Despite the inventory build, global oil inventory increases have generally been below expectations since the start of the year [1] Market Outlook - Oil prices are likely to remain biased to the upside due to the U.S.-Iran situation, tighter sanctions on Russian oil, and expectations of reduced exports [1]

Core Viewpoint - U.S. stock futures declined on Sunday following a volatile start to the year on Wall Street, with expectations of a busy week ahead for technology earnings [1] Group 1 - The decline in stock futures indicates ongoing market volatility and investor uncertainty [1] - The upcoming week is anticipated to feature significant earnings reports from technology companies, which could impact market sentiment [1]

Markets looked past rising supply as shifting U.S. rhetoric on Iran and ongoing weather-related disruptions kept risk premiums elevated. Friday, January 30, 2026 Trump’s erratic rhetoric has been greatly supportive of oil prices this week, first promising ‘speed and violence’ to Iran, only to talk about dialogue the next day. The gradual return of Kazakhstan’s shut-in production was not an impediment to see ICE Brent end the week above $70 per barrel, with the bullish sentiment also bolstered by U ...

Group 1 - Oil prices showed mixed performance during the morning Asian session [1] - U.S.-Iran tensions are expected to provide support for oil prices due to potential supply disruptions [1]

Core Viewpoint - Oil prices exhibited mixed movements, with Brent crude experiencing a slight decline while U.S. contracts saw a modest increase due to rising supply concerns following a winter storm that disrupted crude output and halted Gulf Coast exports over the weekend [1] Group 1 - Brent crude prices decreased slightly [1] - U.S. oil contracts edged higher [1] - Supply concerns intensified due to a winter storm affecting crude output [1] Group 2 - The winter storm led to a halt in Gulf Coast exports [1]

Core Viewpoint - Oil prices continued to rise, extending gains from the previous session, driven by geopolitical tensions between the U.S. and Iran, despite the resumption of full operations at Kazakhstan's main export pipeline [1] Group 1 - Oil prices increased by more than 2% in the previous session [1] - Tensions between the U.S. and Iran are causing uncertainty among investors [1] - Kazakhstan's main export pipeline has resumed full operations, which typically would stabilize prices [1]

Core Viewpoint - The stock market rebounded after a two-day decline, driven by earnings reports and a decrease in oil prices [1] Group 1: Market Performance - The Dow Jones Industrial Average increased by 293 points, representing a 0.6% rise [1] - The S&P 500 index rose by 0.3% [1] - The Nasdaq Composite also saw a 0.3% increase [1] Group 2: Sector Trends - The Russell 2000 index outperformed other major indexes for most of the trading day [1] - There has been a notable trend of investment in smaller stocks throughout the year [1]

Core Viewpoint - Oil prices experienced a slight increase on Thursday, recovering from two consecutive days of decline, driven by a larger-than-expected reduction in U.S. crude inventories, which encouraged investors to purchase futures [1] Group 1 - The U.S. crude inventories saw a significant draw, which was larger than market expectations, providing a bullish signal for oil prices [1] - The rebound in oil prices indicates a potential shift in market sentiment following the recent declines [1] - Investors are responding to the inventory data by increasing their buying activity in the futures market [1]

Core Insights - Gas prices have been declining for years, yet the average American still pays more than pre-pandemic levels, with current prices around $2.82 per gallon, down from $3.07 a year ago [3][11] - The potential overthrow of Venezuelan President Nicolás Maduro is unlikely to significantly impact U.S. gas prices in the near term [1][10] Oil Production and Market Impact - Venezuela holds nearly 20% of the world's known oil reserves, but its oil production has drastically decreased from nearly 3.5 million barrels per day in 1997 to an average of 900,000 barrels per day in 2024 due to underinvestment, corruption, and U.S. sanctions [2] - Experts indicate that the contraction of Venezuela's oil output is a primary reason why recent events will not affect gas prices soon [3][10] - A resolution between the U.S. and Venezuela could potentially return 200,000 barrels of oil to the global market, but the immediate impact on oil supply is expected to be limited [6] Future Projections and Challenges - Experts suggest that even under optimistic scenarios, it could take years for Venezuela to increase oil output significantly, with estimates that it could double production in one to two years under favorable conditions [9] - Repairing Venezuela's oil infrastructure is projected to take years and cost tens of billions of dollars, complicating the economic feasibility of such investments [8] - Despite the challenges, experts believe that global oil markets can withstand a worst-case scenario involving a total collapse of Venezuelan production [7] Consumer Impact and Expectations - Fuel prices are a significant driver of inflation, affecting consumer perceptions and costs of goods [5] - GasBuddy forecasts that the national average price of gas may fall to $2.97 per gallon this year, the lowest since 2020, due to various factors including the unwinding of post-pandemic market distortions and more stable supply chains [11]

Oil Market Overview - Oil prices have remained stagnant, with ICE Brent trading around $60 per barrel on the first trading day of 2026, despite ongoing geopolitical tensions in Russia-Ukraine and Venezuela [2] - In 2025, oil prices experienced a significant decline of 19% year-over-year, marking the largest annual drop since 2020 and the third consecutive year of price decreases, the longest negative streak on record [3] Geopolitical Influences - The U.S. administration has imposed sanctions on four Venezuelan oil tankers, including the Della and Valiant, increasing pressure on the Maduro government [4] - Russian pipeline gas exports to Europe have plummeted to their lowest level in 50 years, with deliveries falling to 18 billion cubic meters in 2025, a 90% decrease from the peak in 2019 [9] Industry Developments - Harbour Energy has taken over operations of Mexico's largest untapped oil field, the Zama field, previously managed by the heavily indebted Pemex [5] - OPEC+ is expected to maintain current production quotas during their meeting on January 4, 2026, as market conditions suggest oversupply risks with Brent prices around $60 per barrel [7] Regional Energy Dynamics - Egypt has signed a memorandum of understanding to supply natural gas to Lebanon, which currently lacks import infrastructure and faces declining domestic gas output [6] - Serbia's state oil company NIS has received a waiver from the U.S. Treasury, allowing it to continue operations while seeking buyers for Gazprom's 11% stake in the company [8]